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Had to take out loan, money already in bank

BUT I don;t want £16,000 sitting in current account What should I do. I don;t want to use my Isa allowance as it is too much anyway and I am going to be saving monthly due to be ing able to repay a big chunk of this in August. so will save back what I would pay in instalments.
Money not needed for at least a month

Currently with Nationwide
Thanks
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Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    edited 24 May 2012 at 5:29PM
    BUT I don;t want £16,000 sitting in current account What should I do. I don;t want to use my Isa allowance as it is too much anyway and I am going to be saving monthly due to be ing able to repay a big chunk of this in August. so will save back what I would pay in instalments.
    Money not needed for at least a month

    Currently with Nationwide
    Thanks


    doesn't make a lot of sense as written.

    Maybe explain the matter a little more clearly?
    EU tariff on agricultual product 12.2%
    some dairy products 42.1% cloths 11.4%
    EU Clinical Trials Directive stops medical advances
  • srcandas
    srcandas Posts: 1,241 Forumite
    Ninth Anniversary 1,000 Posts Combo Breaker
    I think op is asking where to dump £16000 until August. It is a short time so for convenience maybe open an instant access savings account with your bank. Nice easy quick online transfer usually. You might get something like 1.6%. If you move it to a better rate provider you will have to do a little more admin and possibly a little delay in getting your money back into your regular account.

    Hope that's what you meant. :beer:
    I believe past performance is a good guide to future performance :beer:
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